The Tax Credit Of Last Year...So You Think It's Expired

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Real Estate Agent with Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL

The Tax Credit Of Last Year...So You Think It's Expired

The following is taken in part from a blog post I did last year when everyone could take advantage of the $8,000/$6500 tax credit incentive.  If any of this applies to you then you may still be eligible to receive the tax credit...last chance.

The Tax Credit Of Last Year...So You Think It's Expired...well maybe not for a lucky few.  Military & Certain Federal Employees Get Home Buyer Tax Credits Until 2011
A little-known provision of the Home Buyer Tax Credit bill that became effective on Nov 6, 2009, is that certain military personnel and Foreign Service employees have an EXTRA year to purchase a home and qualify for the tax credit.
In addition to that, if they sold a principal residence between Jan 1, 2009 & April 30, 2010 because they had to relocate at least 50 miles due to orders, they qualify for a tax credit, even if they owned a home between the above time periods. Income, age and sales price limitations still apply.

 Who qualifies? Member's of uniformed services, foreign service member's of the US, employee's of the Intelligence community and spouse's of any of the above can get the tax credit if:
They sold their home or the home stops being their principal residence as of January 1, 2009 (because of government orders)
Extended duty (either inside or outside the US) and had to move at least 50 miles away from principal residence.

Extended duty is defined as 91 days service (either inside or outside) the US.

As always, if you have any questions about your specific situation or would like to discuss how you may benefit from this program, please call or email me. I'll be happy to sit down with you.

Nick T Pappas

If you need a knowledgeable real estate professional in Madison or Huntsville Alabama area, why don't you let me Google that for you!  I also know outstanding agents in all states and Canada should you need help relocating to a new area.

 

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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nick good job in bring this up again.  There are still those out there that do not realize this, and even those that did know about it needed to be reminded.

Jan 31, 2011 01:53 PM #1
Rainmaker
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Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

Nick ~ a point well taken.  Our military folks can still take advantage of this.

Jan 31, 2011 02:21 PM #2
Rainmaker
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Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

George-thanks, it's not publicized...at least I don't hear about it. 

Dawn-yes they can, I just hope the news doesn't wait to start promoting it when there is only a month to go before the dead line.

Jan 31, 2011 03:27 PM #3
Rainer
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Maureen Fukumoto
Help-U-Sell Realty Pro - Mililani, HI
Maureen

Thanks Nick, I didn't realize any federal civilian employees werre included in the program.

Jan 31, 2011 07:21 PM #4
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Nick T Pappas

Madison & Huntsville Alabama Real Estate Resource
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